Banks cannot skimp on AI vendor vetting
Financial services companies are still in the early days of utilizing artificial intelligence, meaning they must closely examine any partnership with a third party. This includes demanding evidence to back up any performance claims these outside companies make.
Critics argue the Federal Home Loan Bank System earned record profits last year and should provide a public benefit commensurate with the perks to members.
New York Community Bancorp faced new questions Friday after a flurry of disclosures led to a steep sell-off in its stock. The embattled Long Island-based lender beefed up its risk leadership, but Fitch cut its rating to "junk" status.
Ryan Bailey's brief includes refreshing Cambridge Savings Bank's digital-only brand Ivy Bank. The institution believes his prior stint at USAA has prepared him for the challenge.